4 Comments
Oct 15, 2020Liked by Josh Hendrickson

Great Insight btw

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I think this part of discussion needs more explanation: "In a standard optimizing model of the firm, a corporate income tax increases the user cost of capital and therefore reduces the demand for capital".

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I think you mixed the New Keynesian Model with the neoclassical one. In the Neoclassical model the supply is vertical and the NK is horizontal

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